NORTH AMERICA CYSTIC FIBROSIS THERAPEUTICS MARKET FORECAST 2020-2028

NORTH AMERICA CYSTIC FIBROSIS THERAPEUTICS MARKET FORECAST 2020-2028

The cystic fibrosis therapeutics market of North America is evaluated to grow at a high pace and record a CAGR of 10.07% over the forecast period of 2020-2028. One of the main factors propelling the demand in the market region is the continuous research and development of drugs and therapy for prevailing ailments of cystic fibrosis. In order to further study the North American market of cystic fibrosis therapeutics, the region is divided into the United States and Canada.

The cystic fibrosis therapeutics market of North America is evaluated to grow at a high pace and record a CAGR of 10.07% over the forecast period of 2020-2028. One of the main factors propelling the demand in the market region is the continuous research and development of drugs and therapy for prevailing ailments of cystic fibrosis.

In order to further study the North American market of cystic fibrosis therapeutics, the region is divided into the United States and Canada. In the US, many market leaders are developing efficient products owing to the rise in the need for cystic fibrosis drugs. For example, Virtex has developed three CFTR modulators drugs to fight diseases, namely Orkambi, Symdeko, and Kalydeco. Approved by the FDA, these CFTR drugs are used for the treatment of cystic fibrosis. Therefore, the development of new drugs to treat cystic fibrosis is predicted to propel the market growth in the future in this region. In the United States, the developing market is attributed to a substantial increase in cystic fibrosis in the region. In 2018, the US reigned the North American market and was expected to maintain the same throughout the forecast period. As per Cystic Fibrosis Foundation, cystic fibrosis affects about 30,000 people in the US, and new cases between 900 and 1000 are diagnosed every year.

Abbott Laboratories, headquartered in Abbott Park, Illinois, the US, is a pharmaceutical company that manufactures, develops, and markets a broad line of healthcare products. It has a business presence in 150 countries, including India, the US, Germany, Netherlands, China, Switzerland, Japan, and others. It has a partnership with the National Institutes of Health on brain research through Advancing Innovative Neurotechnologies initiative to improve the progress in neuroscience research.

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